36,465 Shares in Harmony Biosciences Holdings, Inc. $HRMY Bought by Point Nemo Capital LLC

Point Nemo Capital LLC bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 36,465 shares of the company’s stock, valued at approximately $1,432,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. StoneX Group Inc. grew its position in Harmony Biosciences by 8.5% in the 3rd quarter. StoneX Group Inc. now owns 13,182 shares of the company’s stock worth $518,000 after purchasing an additional 1,033 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Harmony Biosciences by 15.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 227,732 shares of the company’s stock valued at $8,947,000 after buying an additional 30,834 shares during the period. Alps Advisors Inc. bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at $548,000. Commonwealth Equity Services LLC lifted its holdings in shares of Harmony Biosciences by 10.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,252 shares of the company’s stock valued at $913,000 after buying an additional 2,144 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Harmony Biosciences by 22.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,089 shares of the company’s stock worth $435,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial lifted their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Monday, October 19th. Wall Street Zen downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Sunday. WBB Securities raised Harmony Biosciences to a “hold” rating in a research report on Friday, October 23rd. Finally, UBS Group reissued a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Harmony Biosciences Trading Up 2.0%

NASDAQ:HRMY opened at $33.11 on Friday. Harmony Biosciences Holdings, Inc. has a one year low of $25.90 and a one year high of $43.49. The business has a fifty day moving average price of $39.36 and a 200-day moving average price of $34.70. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.45.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Wednesday, November 4th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.28). The company had revenue of $268.92 million for the quarter, compared to analysts’ expectations of $272.05 million. Harmony Biosciences had a net margin of 18.05% and a return on equity of 18.55%. Harmony Biosciences’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.69 EPS for the current year.

Insider Buying and Selling

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the company’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the sale, the insider owned 13,115 shares in the company, valued at $564,600.75. This represents a 73.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 72,406 shares of company stock valued at $3,108,520 in the last three months. Corporate insiders own 11.00% of the company’s stock.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.